Anyone have any experience or ideas to fix my own credit?

[TimeForWasp]

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[Rukdafaidas]

Originally Posted by R8ers

Go in to detail so I can respond to you, I love a debate....

I was responding to your statement that credit is for broke people by saying that it's not always just for broke people.
Then you turned around and said credit is for rich people.

[Rukdafaidas]

Originally Posted by Saul Good

Warren Buffet operates his businesses with cash. I think you will agree that he has done pretty well for himself.

Not exactly, they'll use loans to their advantage. Which is what a few of us are trying to say here. You CAN use loans to your advantage. You just have to be smart about it.

http://www.investortrip.com/why-is-w...-stock-shares/

Originally Posted by article

Berkshire uses it impressive credit rating to borrow money at the best rates while other companies struggle to find financing.

Berkshire created money out of thin air by borrowing tons of money at cheap rates then turning around to loaning it out to companies who were extremely desperate for short term financing. In fact, Buffett loaned money to General Electric, Goldman Sachs, and Tiffany Co. to name a few. If you step on Buffett’s cash cow, then he will sell your ass down the river.

[R8RFAN]

Originally Posted by Rukdafaidas

I was responding to your statement that credit is for broke people by saying that it's not always just for broke people.
Then you turned around and said credit is for rich people.

Ok what I am trying to explain is that the credit system will benefit the rich man because of the tax advantages within moderation, there is no denying that and the rich man have people hired to advise him when he will gain financially... The poor man living on a budget does not capitalize from borrowing money they don't have...

I could re mortgage my house, put a couple hundred thousand more in my bank account and pay a house payment every month too.

Would you take something that is paid off and refinance it just to have money in the bank?

Would you borrow money just to put it in the bank ? Of course not, you are losing money...

To those that use a credit card all month and pay it off or leave about 10 bucks on it a month, thats fine, you are responsible with money...


To those with a 5-10k balance, just enough money going into the checking account to pay the bills a month and a mortgage thats eating about half your income a month...

You will fail, I hope you don't but odds are you will and when the house of cards fall, alot of time the marriage does too.

This is how Life should work..

1- Get a job and maintain it & buy a reliable USED car cash
2-save money & Never get a credit card
3- Be 100% debt free before you decide the next step
4- buy a house when you have 20% or more to put down cash, payments under 25% of TAKE HOME PAY a month on a 15 yr Mortgage You should have enough money also to live for 3-6 months in case you break a leg or something above this 20%
Don't worry about a credit score, when you have cash it talks.
5- Work and save more money pay that house off in 5 or so by doubling those payments.

By this time you will have a ton of cash to buy whatever you want within reason with cash money.

Live within your means for life & spend less than you make...

[Simply Red]

There are programs out there.

[R8RFAN]

Originally Posted by Dsnyfn

Interesting that you lecture here.

It's good to see you have taken a better direction than your family members, which means that you learned from their mistakes. It wasn't like you woke up at age 10 with the idea.

But, and this is the only problem I have with Dave Ramsey, sitting on a high horse and lecturing people does nothing to change them. These days we as a society have decided that the only way to make a point is to embarass people instead of encouraging them. In essence, it makes us feel better to belittle the person and show them our superior position, than it does to help them with encouragement and wisdom. I agree that sometimes "tough love" is needed, but it should be the exception not the rule.

Sorry man, if you are too easy with people on this subject they go out an make a decision that hurts them possibly for the rest of their life...

I tell it like it is, a man can take the advice or he can leave it, as I said, a man being poor does nothing to my wallet nor am I charging for the opinion...
The advice is free, take it or leave it.